Module 2- Project Life Cycle and Project Organisational Strategy
Key Takeaways
- Project management is an ideal tool to support strategic planning and achieve strategic goals and objectives.
- Projects selected should support the strategic direction and be consistent with the organisation’s existing or proposed goals and objectives.
- Projects should always add value to the organisation’s strategic direction.
- Projects should be consistent with changes in direction in the organisation’s external operating environment.
- The use of project management can improve the strategy process and help reduce the gap between strategic planning and operations functions.
- The Project Life Cycle is a core tool that guides the management of projects successfully from start to finish.
- Every project goes through the Project Life Cycle, which is made up of four and/or five phases of the project management process.
Project Management Tip:
“Before pursuing a new service or product development, or improving an existing one, there must be a strategic alignment within the project and all elements driving the organisation.”
Reflect on how each of these three sub-elements, including 1. Developing a strategic vision and sense of mission, 2. Formulating, implementing, and evaluating Cross-functional decisions, and 3. Achieving its objectives, are important in understanding the challenge of strategic project management.
Exercises